Like the first agreement Bill Clinton did?
Some people ain’t happy….
If approved by all three countries?
It would be Trump’s first trade deal in over three years in office….
It’s official: There is now a revised revised NAFTA.
On Tuesday, House Democrats announced that they’d back the United States Mexico Canada Agreement (USMCA), the updated version of the North American Free-Trade Agreement (NAFTA) that the Trump administration renegotiated last year.
Democrats are supporting the agreement now that they’ve secured changes to the deal, achieving concessions on labor and environmental rules and enforcement, prescription drugs, and other provisions that had long been sticking points between House Democrats and the administration.
“There is no question, of course, that this trade agreement is much better than NAFTA,” House Speaker Nancy Pelosi said at a press conference Tuesday. “But in terms of our work here, it is infinitely better than what was initially proposed by the administration.”
The tweaks Democrats negotiated — which received the critical endorsement of US labor organizations — require Mexico and Canada to sign on to the alterations. The Trump administration’s top trade representative, Robert Lighthizer, and his counterparts in Canada traveled to Mexico City on Tuesdayto meet with Mexican officials to finalize the changes and participate in a signing ceremony.
All three countries will still need to ratify this new version of the USMCA. Mexico ratified the original USMCA in June, but it must approve these changes and the deal must go through Congress and Canada’s parliament. Now that Democrats have accepted this deal, the USMCA should pass Congress, and Canada is likely to follow suit.
It’s a big victory for President Trump, who made renegotiating the deal one of his key campaign promises. But it comes at an incredibly weird time: Pelosi announced the breakthrough at a press conference about an hour after she held a separate press conference to announce that Democrats were moving forward with two articles of impeachment against the president…..